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Spotify Island Brings New Experiences to Fans and Artists

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Spotify Island Brings New Experiences to Fans and Artists

  • Spotify (NYSE:SPOT), the leading music streaming platform, is ready to enter into the realm of Web 3.0. The music streaming giant has joined forces with Roblox to provide its users with a virtual universe experience. “Roblox fans, pack your bags”, the reveal read. Spotify encourages users of the digital universe to visit their new island. Moreover, Spotify’s metaverse in Roblox has a green, nature-centric design, and features Spotify’s trademark color scheme, giving a feeling of familiarity to those that use the Spotify app.

‘Spotify Island’ Empowering Players to Create & Communicate

Launched on May 3rd, Spotify invites its users to engage in different tasks in order to “climb the charts”, or in this case, the Roblox leaderboard.

Once on Spotify Island, users can:

  • Unlock four items for free;
  • Experiment with the magic of sound in a crystal cave;
  • Jump on a trampoline;
  • Collect rare music notes hidden across the area;
  • Create a hot beat with the virtual tune making station;
  • Perform on a digital stage with confetti and colorful bubbles.

An Opportunity for Indie Artists to Engage with Fans and Earn

Spotify primarily has faith that the metaverse will bring a wide range of engagement opportunities for fans and artists alike. They also intend for the island to provide artists with more chances to earn money from in-game digital merch. In addition to this, Spotify promises a “simple solution” for creators looking to contribute to the production of in-game products.

This marks the first-ever attempt to establish a music streaming service inside the game’s ecosystem. Recently, Spotify has been working on a community-based solution after artists expressed concerns about the lacking connection between creators and listeners on the most popular music streaming platform. As a result, the metaverse has become the stage upon which the platform with play.

In conclusion, it is worth noting that the “wonderland of sounds, quests and exclusive merch” of the blockchain-based island is powered by Roblox, a company included in the TOP 500 groundbreaking companies of the year. Roblox is a company with over 40 million daily users, and is extremely popular among teenagers and young adults. To celebrate the partnership, Spotify has released a special new playlist.

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Cryptocurrency

Top 3 cryptocurrencies that are faring the best in the 2022 bear market

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Top 3 cryptocurrencies that are faring the best in the 2022 bear market

The crypto market has been in decline over the past six months with its valuation dropping from over $3 trillion in November 2021 to $1.23 trillion in May 2022.

Fears over persistently higher inflation, the Federal Reserve’s hawkish response to it, and the ongoing conflict between Ukraine and Russia prompted investors to limit their exposure to riskier assets. Also, their increasing appetite for the safe-havens, such as the U.S. dollar, weighed down demand for some of the top cryptocurrencies and U.S. equities.

XMR/USD weekly price chart. Source: TradingView
LEO/USD weekly price chart. Source: TradingView
BNB/USD weekly price chart. Source: TradingView

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Cryptocurrency

Understanding Tether’s Peg and Reserves and How They Work

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Understanding Tether’s Peg and Reserves and How They Work

  • How to maintain Tether’s stability.
  • Tether’s reputation and transparency.
  • Financial reserves of Tether are solid, cautious, and liquid.

Given that Terra’s peg has fallen, it’s reasonable to wonder what prevents Tether (USDT) from following the same path.

USDT and Terra utilize distinct designs, mechanisms, and collateral. Terra was a computable stablecoin that wasn’t fully collateralized. It includes a variety of stability-inducing mechanisms, but they all failed in the end.

USDT is fully collateralized, with no credit risk. Each USDT can be exchanged for dollars through Tether, ensuring that when the price falls below $1, investors can acquire USDT at a discount and redeem them with Tether to make a profit.

During periods of high market volatility, the price of USDT might drop below or exceed $1. This does not imply that the peg has been broken. It indicates an increased level of liquidity than what is available on the order books of that exc …

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LTC Social Engagement Jumps 21% After MimbleWimble Activation

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LTC Social Engagement Jumps 21% After MimbleWimble Activation

  • The Litecoin community has recently approved the activation of the MimbleWimble protocol on the LTC mainnet.
  • This upgrade has led to a massive jump in overall Litecoin social engagement.
  • So far, Litecoin’s social engagement has increased by 21%, and even hit its highest point in the last three months.

The Litecoin community has recently approved the activation of the MimbleWimble protocol on the LTC mainnet.

MimbleWimble is a privacy-focused decentralized protocol that enables users to conceal transaction data with its confidentiality feature while providing a foundation for other blockchains to improve the usability of their token.

The Mimblewimble Extension Block (MWEB) hides three critical pieces of information: sender address, receiver address, and the amount of crypto sent.

With the Mimblewimble Extension Block, users can opt-in to confidential transactions. The goal of this is to enhance the visibility of Litecoin as a fungible currency that can be used for real-world transactions by lowering fees and adding privacy, throughput and scalability.

This upgrade has led to a massive jump in overall Litecoin social e …

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